Thailand banned foreign P2P crypto platforms in 2025 to stop scams and money laundering. Five major exchanges were blocked, and only licensed local platforms are now legal. Here's what it means for users and businesses.
Thailand SEC: What It Does, How It Affects Crypto, and What You Need to Know
When you trade crypto in Thailand, you’re not just dealing with markets — you’re dealing with the Thailand SEC, the Securities and Exchange Commission of Thailand, the government body that oversees all digital asset trading, token sales, and exchange operations in the country. Also known as SEC Thailand, it’s the single authority that decides what crypto projects can operate legally — and which ones get shut down. Unlike places where crypto is ignored or banned, Thailand has built one of the clearest regulatory frameworks in Southeast Asia.
The Thailand SEC, the official regulator for digital assets in Thailand, responsible for licensing exchanges and approving token offerings doesn’t just watch — it acts. It requires every crypto exchange operating in the country to get a license, enforce strict KYC, and report suspicious activity. Unlicensed platforms? They’re blocked. Token sales without approval? They’re illegal. This isn’t just bureaucracy — it’s a system designed to protect retail investors from scams while still letting innovation happen under rules.
That’s why projects like Blast (BLAST), a layer 2 Ethereum token with auto-rewards, often evaluated under Thailand SEC guidelines for investor protection and market stability or even meme coins like Shytoshi Kusama (SHY), a Solana-based token with no real team or utility, often flagged by regulators like the Thailand SEC for being high-risk and unregistered get scrutinized. The Thailand SEC doesn’t care if a coin has 100,000 holders — if it’s not registered, it’s not legal to promote or sell to Thai residents. That’s why Thai traders often use offshore exchanges — but they do it at their own risk.
And it’s not just about exchanges. The Thailand SEC, the government entity that sets the legal boundaries for crypto trading, token issuance, and investor disclosures in Thailand also controls how new tokens are launched. Every initial coin offering (ICO) or token sale must go through a formal approval process. That means projects can’t just drop a whitepaper and start selling — they need legal docs, audits, and proof they’re not running a pyramid scheme. It’s slow. It’s strict. But it’s also why Thailand has fewer crypto scams than most countries in the region.
If you’re trading crypto from Thailand, you need to know: the Thailand SEC is not going away. It’s getting stronger. New rules keep coming — like mandatory reporting for wallet providers and stricter limits on leverage. Even if you’re using a foreign exchange, if you’re a Thai citizen, you’re still subject to their laws. And if you’re building a crypto project? You can’t skip the Thailand SEC. No license means no Thai users. No Thai users means no market.
Below, you’ll find real examples of how crypto rules play out — from banned platforms to approved tokens, from trader warnings to regulatory crackdowns. These aren’t hypotheticals. They’re cases that happened. And they’ll shape what’s allowed — and what’s not — in Thailand’s crypto future.